Iberdrola moves to spread its influence in Europe

Spanish utility Iberdrola is taking steps to expand its trading and supply activities in Europe, particularly in Portugal, given that the joint Iberian power market is scheduled to open in March 2005.

The company’s new Portuguese subsidiary, Iberdrola Portugal, plans to formally open its Lisbon offices early in the fourth quarter, a spokeswoman told Energy Risk today. The branch will operate in the electricity, natural gas renewable energy and services businesses.

What’s more, in the short term, Madrid-based Iberdrola aims to extend its energy trading activity in Europe to other countries, such as the UK or Italy.

Meanwhile, Iberdrola recently started trading on the French electricity

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